Markets

Daily Market Update –February 15, 2013

The Money Market
Despite the Treasury Bills cash credit of ₦195 billion yesterday, interest rates rose by over 2.00% due to the Bond Auction and WDAS settlements. Consequently, the secured OBB and overnight Funds traded at 14.00% and 14.25% respectively. FAAC meeting was concluded yesterday and market liquidity is expected to be boosted next week upon credit of FAAC funds and Bond maturities of ₦382 billion.

Treasury Bills Market

Daily Market Update –February 14, 2013

The Money Market
Market liquidity improved significantly due to the credit of T-bills maturities totalling ₦195billion. As a result, rates fell sharply by an average of 3.00%. Consequently, the secured OBB and overnight funds traded at 11.50% and 11.75% respectively. Market liquidity is expected to fall by the close of the week due to the Bond Auction and WDAS settlements.

Treasury Bills Market

Daily Market Update –February 13, 2013

The Money Market
As expected, market liquidity shrunk further today due to NNPC withdrawals from the system. However, interest rates remained at the same levels. Consequently, the secured OBB and overnight funds traded circa 14.50% and 14.75% respectively. Market liquidity is expected to improve tomorrow following the credit of T-bills maturity totalling ₦190 billion.

Treasury Bills Market

Daily Market Update –February 12, 2013

The Money Market
Market liquidity fell sharply, opening today, as a result of the NNPC withdrawals. Consequently, rates went up by an average of 0.50%; the secured OBB and Overnight funds traded at 14.50% and 14.75% respectively. Market liquidity is expected to shrink further due to NNPC withdrawals; while it will eventually improve towards the end of the week upon the credit of T-bills maturity.

Treasury Bills Market

Daily Market Update –February 11, 2013

The Money Market
The WDAS and OMO debits on Friday, last week, caused a drop in market liquidity. Hence, the market opened at a 2-week record law, resulting in a spike in rates by 0.75%. Consequently, the secured OBB and the Overnight funds traded at 14.00% and 14.25% respectively. Market liquidity is expected to shrink further due to NNPC withdrawals and eventual improvement towards the end of the week upon the credit of T-bills maturity.

Treasury Bills Market

Stock Market Weekly Summary: February 8, 2013

A turnover of 3.57 billion shares worth ₦24.69 billion in 39,321 deals were transacted last week on the floor of the Nigerian Stock Exchange (NSE) in contrast to a total of 2.81 billion shares valued at ₦22.19 billion in the previous week in 33,123 deals.

The Financial Services sector sustained its dominance as the most active during the week, contributing 70.75%, 66.16%, 58.71% to the total equity turnover volume, value and number of trades respectively in 2.53 billion shares valued at ₦16.34 billion.

Daily Market Update –February 6, 2013

The Money Market
Interest rates dropped by an average of 0.50% due to the level of liquidity in the money market. Excess crude funds estimated at ₦75 billion also hit the system thereby dropping rates further to sub 11%. The market is expected to remain liquid, however, the CBN may likely mop up excess funds from the system via OMO.

Treasury Bills Market

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